Australia Furniture Market is Expected to Reach AUD 14 Billion by 2022: Ken Research
GURUGRAM, India, June 12, 2018 /PRNewswire/ --
Australia furniture market segmentation by end users (Residential, Hospitality and Commercial), major cities (Sydney, Melbourne, Perth, Brisbane, Adelaide, Auburn, Gold Coast, New Castle and Canberra), by type of sector (Organized and Unorganized sector), by residential furniture (bedroom, living room, kitchen, home office furniture, dining room, storage furniture and other residential furniture), by home furnishing (Indoor, Outdoor and Lighting), by distribution channel (Homewares and Home Furnishing Stores, Home Improvement and Gardening Stores, Department Stores, Mass Merchandisers, Internet Retailing, Supermarkets, Variety Stores, Warehouse Clubs and others)
(Logo: https://mma.prnewswire.com/media/661352/Ken_Research_Logo.jpg )
June 2018 | Australia News
- The number of households in Australia is projected to rise from 8,196.6 thousand in 2017 to 9,160.3 thousand by 2022, representing growth at a CAGR of 1.8% during the period 2017-2022. The residential sector generated most of the demand for furniture products in the country.
- Growth in establishments of economy and luxurious hotels in the country resulted in increased demand for beds, wardrobes and other furniture to be installed within the premises.
- Inflow of multinational companies in Australia has resulted in increasing demand for fully furnished offices in the country thus increasing the demand of office furniture.
The construction of more condominiums and residential houses in the country is expected to drive the growth of the industry in the coming years. Moreover, many retailers are opening new stores in different locations and increasing the product listing is also driving the growth of the furniture market. Unorganized sector dominated the market, in terms of large number of unorganized manufacturers operated in the country in 2017. Lower cost of production by using the locally available resources assists unorganized retailers in selling products at a lower price than the one sold by established companies with multiple retail outlets in Australia. The increasing demand for the branded products among the customers owing to rising income level has led to the growth of organized retailers in the country. There has been a rapid growth in real estate sector due to the rise in demand for residential property in the country. In future, bedroom furniture will be the highest selling product category in home furniture segment, followed by living room furniture, kitchen furniture, home office furniture, dining room furniture, storage furniture and all other residential furniture.
Analysts at Ken Research in their latest publication "Australia Furniture Market Outlook to 2022 - By Residential (Bedroom, Living Room, Kitchen, Home Office Furniture, Dining Room, Storage Furniture and Other Residential Furniture), Hospitality and Commercial Furniture, by Home Furnishing (Indoor, Outdoor and Lighting)" believe that rise in demand of residential furniture with the change of existing furniture and adopting new designs & contemporary furniture will aid the furniture market.
Australia Furniture market is expected to register positive CAGR of around 3.3% during the period 2018-2022. Rise in number of online market players catering to the demand for wooden products and accessories are expected to have positive impact on the overall revenue of Australia furniture market.
Key Topics Covered:
Australia Furniture Market
Australia Furniture Furnishings Industry Size
Value Chain Australia Furniture
Supply Chain Australia Furniture
Furniture Logistics Companies Australia
Organized Sector Australia Furniture
Australia Furniture Industry Trends
Australia Residential Furniture Market
Australia Office Furniture Market
Bed Sales in Australia
Sofa Sales in Australia
Australia Hospitality Furniture Market
Australia Bedroom Furniture Market
Australia Living Room Furniture Market
Australia Kitchen Furniture Market
Australia Home office Furniture Market
Australia Dining Room Furniture Market
Australia Storage & Other Furniture Market
Furniture Stores in Australia
Regional Furniture Sales Australia
Customer Preference Furniture Australia
Australia Residential Furniture Future
Australia Modular Kitchen Market
Mattress Sales in Australia
Dining Set Sales Volume Australia
Australia Modular Kitchen Project Sales
Trends and Developments Modular Kitchen
Cost Modular Kitchen Australia
Australia Modular Kitchen Competition Scenario
Australia Used Furniture Market
Australia Online Furniture Market
Business Model Australia Online Furniture
Australia Home Furnishing Market
Indoor Home Furnishing Market
Australia Outdoor Home Furnishing Market
Australia Lighting Home Furnishing Market
Australia Home Textiles
Australia Bed Textiles
Australia Bath Textiles
Australia Living Room Textiles
Australia Window Coverings
Australia Barbeque Market
Australia LED Market
Australia Furniture Imports
Australia Furniture Exports
Issues Challenges Australia Furniture
Trends Australia Furniture
Government Standards Australia Furniture
Australia Furniture Competition Scenario
Decision Buying Parameters Australia Furniture
Australia Furniture Future
Analyst Recommendation Australia Furniture
For more information about the publication, refer to below link:
Related Reports:
The furniture market in Indonesia is highly competitive due to large number of domestic and global players offering similar furniture in the space.
China was recognized as the largest furniture exporter in the world. In 2010, the China furniture market was valued at USD 40.9 billion.
India Organized Home Furniture market will grow at a considerable CAGR rate thus reaching INR 311.4 billion by 2020
Online players faced stiff competition from brick and mortar stores all across the country, which offered a wide variety of products at competitive prices.
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Share this article